Following these proceedings, Jefferies upgraded its Frontline Plc [FRO] rating to a Buy from a a Hold in a research note published on March 21, 2024; the price target was increased to $30 from $22. A number of analysts have revised their coverage, including Deutsche Bank’s analysts, who increased its forecast for the stock in early January from “a Hold” to “a Buy”. Deutsche Bank also remained covering FRO and has decreased its forecast on August 25, 2023 with a “Hold” recommendation from previously “Buy” rating. JP Morgan started covering the stock on August 15, 2023. It rated FRO as “a Neutral”.
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Price Performance Review of FRO
On Tuesday, Frontline Plc [NYSE:FRO] saw its stock jump 1.88% to $23.28. Over the last five days, the stock has gained 2.60%. Frontline Plc shares have risen nearly 16.11% since the year began. Nevertheless, the stocks have risen 23.96% over the past one year. While a 52-week high of $29.39 was reached on 05/28/24, a 52-week low of $17.02 was recorded on 01/02/24. SMA at 50 days reached $23.37, while 200 days put it at $23.67.
Levels Of Support And Resistance For FRO Stock
The 24-hour chart illustrates a support level at 22.52, which if violated will result in even more drops to 21.75. On the upside, there is a resistance level at 23.80. A further resistance level may holdings at 24.31. The Relative Strength Index (RSI) on the 14-day chart is 52.33, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.18, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 29.32%. Stochastics %K at 59.65% indicates the stock is a holding.
How much short interest is there in Frontline Plc?
A steep rise in short interest was recorded in Frontline Plc stocks on 2024-09-13, growing by 0.99 million shares to a total of 8.66 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-15 was 7.67 million shares. There was a rise of 11.48%, which implies that there is a positive sentiment for the stock.
